U.S. hotel results for week ending 1 February
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 26 January through 1 February 2020, according to data from STR.
In comparison with the week of 27 January through 2 February 2019, the industry recorded the following:
Occupancy: +1.7% to 57.6%
Average daily rate (ADR): +2.2% to US$127.94
Revenue per available room (RevPAR): +4.0% to US$73.73
Super Bowl LIV host, Miami/Hialeah, Florida, posted the largest increase in RevPAR (+68.4% to US$339.88), driven by the highest lift in ADR (+69.0% to US$404.03).
New Orleans, Louisiana, experienced the highest rise in occupancy (+11.8% to 69.3%).
Anaheim/Santa Ana, California, saw the second-largest jump in RevPAR (+21.9% to US$122.46), due to the second-highest increases in occupancy (+11.6% to 74.8%) and ADR (+9.2% to US$163.81).
Overall, 18 of the Top 25 Markets reported a RevPAR increase.
Due to comparisons with its Super Bowl host year in 2019, Atlanta, Georgia, recorded the steepest declines in each of the three key performance metrics: occupancy (-2.8% to 67.0%), ADR (-39.4% to US$124.42) and RevPAR (-41.1% to US$83.30).
San Diego, California, registered the second-largest decreases in occupancy (-1.7% to 73.4%), ADR (-5.6% to US$156.77) and RevPAR (-7.3% to US$115.10).
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
Source = STR